According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- the growth of Intel Foundry Services (“IFS”) was not indicative of revenue growth reportable under the Internal Foundry segment;
- the internal foundry model (“Foundry” model) experienced significant operating losses in 2023;
- the Foundry experienced a decline in product profit driven by lower internal revenue;
- as a result the Foundry model would not be a strong tailwind to Intel’s IFS strategy; and
- as a result of the foregoing, defendants’ positive statements about Intel’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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